The Manufacturers Life Insurance Company Grows Stock Position in LifeStance Health Group, Inc. (NASDAQ:LFST)

The Manufacturers Life Insurance Company boosted its stake in shares of LifeStance Health Group, Inc. (NASDAQ:LFST) by 10.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,741 shares of the company’s stock after purchasing an additional 7,798 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in LifeStance Health Group were worth $572,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. CIBC Asset Management Inc acquired a new position in shares of LifeStance Health Group during the second quarter worth about $53,000. Algert Global LLC purchased a new position in LifeStance Health Group in the second quarter worth approximately $57,000. Victory Capital Management Inc. grew its holdings in LifeStance Health Group by 27.0% during the 2nd quarter. Victory Capital Management Inc. now owns 14,407 shares of the company’s stock worth $71,000 after acquiring an additional 3,063 shares in the last quarter. Park Edge Advisors LLC purchased a new stake in shares of LifeStance Health Group in the 3rd quarter valued at approximately $73,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of LifeStance Health Group in the 2nd quarter valued at $81,000. Hedge funds and other institutional investors own 85.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays lifted their price target on LifeStance Health Group from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, LifeStance Health Group has a consensus rating of “Hold” and an average target price of $8.50.

LifeStance Health Group Stock Down 0.7 %

Shares of NASDAQ:LFST opened at $7.17 on Friday. LifeStance Health Group, Inc. has a 1-year low of $4.64 and a 1-year high of $9.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market cap of $2.74 billion, a P/E ratio of -27.58 and a beta of 1.28. The firm has a fifty day moving average price of $7.17 and a 200 day moving average price of $6.33.

LifeStance Health Group (NASDAQ:LFST) last announced its earnings results on Thursday, November 7th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.05. The business had revenue of $312.70 million during the quarter, compared to the consensus estimate of $302.25 million. LifeStance Health Group had a negative net margin of 7.90% and a negative return on equity of 6.66%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. Sell-side analysts predict that LifeStance Health Group, Inc. will post -0.2 EPS for the current year.

Insider Transactions at LifeStance Health Group

In other LifeStance Health Group news, Director Robert Bessler sold 75,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $7.54, for a total value of $565,500.00. Following the transaction, the director now directly owns 1,424,447 shares of the company’s stock, valued at approximately $10,740,330.38. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.60% of the company’s stock.

About LifeStance Health Group

LifeStance Health Group, Inc, through its subsidiaries, provides outpatient mental health services to children, adolescents, adults, and geriatrics in the United States. The company offers patients a suite of mental health services, including psychiatric evaluations and treatment, psychological, and neuropsychological testing, as well as individual, family, and group therapy.